31 Dec 2014

US Jobless Claims and Housing Data in Focus

Nationwide’s report revealed yesterday that house price growth in the UK continued to slow for December, although the print further indicated that activity in Britain’s housing market is anticipated to improve going forward. Market participants will now keenly eye the manufacturing PMI survey in the UK later this week followed by services and construction PMI due next week for further direction to Sterling against the majors. Across the Atlantic, data released yesterday revealed that consumer confidence improved less than expected for December, as consumers remained uncertain about growth in the labour market going forward. Later today, initial jobless claims and pending home sales data in the US is likely to attract attention among market participants.